Sentences with phrase «interest over the entire life of the loan»
Not exact matches
With a fixed - rate mortgage, you pay the same interest rate over the entire life of the loan.
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This makes it very different from a fixed mortgage, which instead carries the same rate of interest over the entire term or «life» of the loan.
Our interest rate went from 5.5 % to 3.5 %, which helps us save thousands of dollars over the entire life of our loan.
These factors are home value, up to a maximum cap; age; interest rate; and loan type, which include a lump sum, monthly payment over a specified term, monthly payment over your entire life, line of credit, or some combination of these options.
If you have a fixed rate mortgage, your monthly payment for your principle and interest will stay the same over the life of the loan until your entire loan balance is paid off.
As the name suggests, a fixed - rate loan is one that keeps the same interest rate over the entire life or «term» of the loan.
Using the $ 35,000 student loan example: If automatic debit is used during the entire life of a 10 - year loan, reducing the interest rate from 4 percent to 3.75 percent, you could save $ 500 over the life of the loan in interest payments.
Finance Charge Your finance charge is the total of all the interest you would pay over the entire life of the loan, assuming you kept the loan to maturity, as well as all prepaid finance charges.
This makes it very different from a fixed mortgage, which instead carries the same rate of interest over the entire term or «life» of the loan.